CM Huat Pals
we still see a bullish net position change on all exchanges on BTC
you can consider dca-ing into this idea
because price is a lagging indicator to on chain metrics
because price is a lagging indicator to on chain metrics
consider trimming some positions bought in the dip
more likely to u-turn after tapping the area we're at now (51k)
if not then a tap on 54k
a clean reclaim and hold of 54k will make me bullish again
more likely to u-turn after tapping the area we're at now (51k)
if not then a tap on 54k
a clean reclaim and hold of 54k will make me bullish again
quick general market update
bulls:
BTC needs to reclaim 54k and pray for a squeeze up to resume the bullish case. However, profit taking will be quick on the move up to 54k (traders buying the dip and selling the bounce)
bears:
bears will look to short after trapping longs in the area of 53-54k to capture the most value in the supply from profit taking. bears want the 53-54k area as much as the bulls want it as well. hence, the relief bounce here.
however, bears have the edge here from F&G index and retails panicking
overall market sentiment:
imo still bearish. fud keeps piling with not much significant bullish news. Omicron, tapering, china enforcement, evergrande.
tldr; a move down is more likely as of now
bulls:
BTC needs to reclaim 54k and pray for a squeeze up to resume the bullish case. However, profit taking will be quick on the move up to 54k (traders buying the dip and selling the bounce)
bears:
bears will look to short after trapping longs in the area of 53-54k to capture the most value in the supply from profit taking. bears want the 53-54k area as much as the bulls want it as well. hence, the relief bounce here.
however, bears have the edge here from F&G index and retails panicking
overall market sentiment:
imo still bearish. fud keeps piling with not much significant bullish news. Omicron, tapering, china enforcement, evergrande.
tldr; a move down is more likely as of now
Crypto Mumbles
in case you missed out, LUNA has shown strength despite the recent dips neither metaverse nor gaming coin why is it doing so well? here's a basic read of what LUNA is: https://www.gemini.com/cryptopedia/terra-luna-coin-fiat-stablecoin
yes thank you
finally something that makes sense
https://fortune.com/2021/12/06/luna-coin-top-ten-crypto-dogecoin-shiba-inu-avalanche-ethereum/
finally something that makes sense
https://fortune.com/2021/12/06/luna-coin-top-ten-crypto-dogecoin-shiba-inu-avalanche-ethereum/
Fortune
LUNA coin surges past DOGE, SHIB and AVAX to become 10th-largest coin
The search for alternatives to Ethereum has fostered the rise of options like Avalanche, Solana and Luna.
some of you might already know that this talk is happening later today
"The hearing will be led by Waters (D-CA), the Chairwoman of the House Committee on Financial Services. (The hearing’s full noscript is “Digital Assets and the Future of Finance: Understanding the Challenges and Benefits of Financial Innovation in the United States.”) Waters’ committee has called six witnesses to the hearing, who are executives for major cryptocurrency companies and exchanges including Coinbase, Circle and FTX."
overall I'm bearish on this talk because many altcoins fall within the definition of a security -> regulation will take place
anyway, no news = good news, and good news.. will be good news
regardless, a fall in price movement is expected so i don't think we'll be too shocked if anything
https://time.com/6126268/cryptocurrency-ceos-congress-hearing/
"The hearing will be led by Waters (D-CA), the Chairwoman of the House Committee on Financial Services. (The hearing’s full noscript is “Digital Assets and the Future of Finance: Understanding the Challenges and Benefits of Financial Innovation in the United States.”) Waters’ committee has called six witnesses to the hearing, who are executives for major cryptocurrency companies and exchanges including Coinbase, Circle and FTX."
overall I'm bearish on this talk because many altcoins fall within the definition of a security -> regulation will take place
anyway, no news = good news, and good news.. will be good news
regardless, a fall in price movement is expected so i don't think we'll be too shocked if anything
https://time.com/6126268/cryptocurrency-ceos-congress-hearing/
Time
Crypto CEOs Head to Congress to Push Back on Looming Regulations. Here's What to Expect
As debates about cryptocurrency regulation continue to be waged around the world, six key executives will attempt to defend the rapidly growing field before Congress
not really into NFTs but I'm definitely trying out this one for sure
https://twitter.com/pepsi/status/1468946201718501376?s=20
https://twitter.com/pepsi/status/1468946201718501376?s=20
the coming bear market (should there be one) will be an interesting one
https://www.ft.com/content/4f8044bf-8f0f-46b4-9fb7-6d0eba723017
https://www.ft.com/content/4f8044bf-8f0f-46b4-9fb7-6d0eba723017
Ft
Hedge funds expect to hold 7% of assets in crypto within five years
Forecast could equate to about $312bn in digital currencies across the industry, survey finds
I love this article (~15min read)
incredibly insightful
it is unlikely for eth to be both the best smart contract protocol and a monetary instrument
eth being deflationary is actually harmful in the long run with it's actual goal of being a decentralised computer in mind
inevitable that crypto with real world use cases will eventually be worth more than bitcoin if we are pursuing the currency adoption
"Bad money is spent, e.g. USD and other fiats; good money is hoarded, e.g. Bitcoin. This is Gresham’s law. However, while hoarding gold does not diminish its value, in extremis hoarding Bitcoin in the future without using it in any fashion will destroy the economics of the network which gives Bitcoin its value — because after block rewards end, miners will only be paid in transaction fees, and if there are no transactions, there are no fees, and no incentive for miners to maintain the network."
-> btc should be spent and not hoarded tightly
“When the music stops, in terms of liquidity, things will be complicated, but as long as the music is playing, you’ve got to get up and dance.” - Chuck Prince, former head of Citigroup
https://cryptohayes.medium.com/fear-is-the-mind-killer-f838d9a0d1c1
#reads #newbie
incredibly insightful
it is unlikely for eth to be both the best smart contract protocol and a monetary instrument
eth being deflationary is actually harmful in the long run with it's actual goal of being a decentralised computer in mind
inevitable that crypto with real world use cases will eventually be worth more than bitcoin if we are pursuing the currency adoption
"Bad money is spent, e.g. USD and other fiats; good money is hoarded, e.g. Bitcoin. This is Gresham’s law. However, while hoarding gold does not diminish its value, in extremis hoarding Bitcoin in the future without using it in any fashion will destroy the economics of the network which gives Bitcoin its value — because after block rewards end, miners will only be paid in transaction fees, and if there are no transactions, there are no fees, and no incentive for miners to maintain the network."
-> btc should be spent and not hoarded tightly
“When the music stops, in terms of liquidity, things will be complicated, but as long as the music is playing, you’ve got to get up and dance.” - Chuck Prince, former head of Citigroup
https://cryptohayes.medium.com/fear-is-the-mind-killer-f838d9a0d1c1
#reads #newbie
goodbye fiat
inflation @ 4-decade high
https://www.coindesk.com/markets/2021/12/10/us-inflation-rate-surges-to-68-in-november-a-4-decade-high-bitcoin-jumps/
inflation @ 4-decade high
https://www.coindesk.com/markets/2021/12/10/us-inflation-rate-surges-to-68-in-november-a-4-decade-high-bitcoin-jumps/
CoinDesk
US Inflation Jumps to 39-Year High of 6.8% in November; Bitcoin Falls
The last Consumer Price Index report (CPI Report) sent bitcoin prices to an all-time high – before they quickly retreated on bets that the Federal Reserve may be forced to tighten monetary policy sooner.
Crypto Mumbles
goodbye fiat inflation @ 4-decade high https://www.coindesk.com/markets/2021/12/10/us-inflation-rate-surges-to-68-in-november-a-4-decade-high-bitcoin-jumps/
also,
btc did a scam pump likely due to the inflation news
unsustainable
btc did a scam pump likely due to the inflation news
unsustainable
Crypto Mumbles
quick general market update bulls: BTC needs to reclaim 54k and pray for a squeeze up to resume the bullish case. However, profit taking will be quick on the move up to 54k (traders buying the dip and selling the bounce) bears: bears will look to short after…
anything in between 54k and 44k is the chop zone so becareful out there
i'll be observing and waiting for my areas of interest @ 54k or 44k
i'll be observing and waiting for my areas of interest @ 54k or 44k
not saying I entered crypto in 2013 or anything but damn the thumbnails really do annoy me
https://twitter.com/lowstrife/status/1469174973411508226?s=20
https://twitter.com/lowstrife/status/1469174973411508226?s=20
CM Intro to Aave.pdf
570.2 KB
recently did some research on Aave
figured why not share it with you guys as well
might've missed out things here and there as well but I guess it'll be a nice intro to Aave
cheers!
figured why not share it with you guys as well
might've missed out things here and there as well but I guess it'll be a nice intro to Aave
cheers!
👍1
FOMC meeting 14 dec - 15 dec
volatility will be wild
will be observing until the meeting to understand how the market is reacting to whatever that is gonna be mentioned
take care if you're trading!
https://www.federalreserve.gov/newsevents/calendar.htm
volatility will be wild
will be observing until the meeting to understand how the market is reacting to whatever that is gonna be mentioned
take care if you're trading!
https://www.federalreserve.gov/newsevents/calendar.htm
Binance SG pulling out of Singapore
take note of this
deadline: 13 Feb 2022
https://www.channelnewsasia.com/business/binance-sg-singapore-close-withdraw-mas-application-2375571
take note of this
deadline: 13 Feb 2022
https://www.channelnewsasia.com/business/binance-sg-singapore-close-withdraw-mas-application-2375571